The COVID-19 pandemic has stressed the need for digital transformation at a rapid pace in every industry. The BOT model has proved to be a great approach to managing change while adding value.
Due to new digital adjustments, organizations face the need to deliver on the fast track while assembling new skills altogether. These tasks not only need to be achieved correctly but rapidly. As new technologies emerge, new ways of managing are also required.
Since we have already answered the main question: “what is business operate and transfer model (BOT)?”, we will focus on its impact on accelerating digital transformation. During this year, most business leaders have speeded up decision making when it comes to digital conversion. Even though many of them have invested copious amounts of money in recruited experts, the objectives haven’t been accomplished so far.
Digital transformation business process
Changing how you operate and still deliver value is not an easy task. The global pandemic has led many organizations to work forward into business transformation. Investing time in streamlining training and upskilling people has worked as an initial fix. However, enterprises must quicken learning at all levels to ensure permanent and ongoing business alterations.
TEAM has worked operating the BOT model worldwide, and we recognize the urgent need to stay in shape and up to date when it comes to digital. We have also seen the everyday struggles that stand in the way of a successful digital transformation business process. Even when companies are eager to redesign their business operations, it becomes insufficient doing so at the required tempo or capacity.
One usual flaw is to believe that digital transformation depends on IT. Based on needs and objectives, there should be a joint effort between IT and business. Organizations also grapple with hiring and retaining the right people, especially in locations where digital talent meagers. Deficient leadership and procedural decision-making are responsible for entangling priorities and weakening rapid responses to competition. Fear of change also plays a significant role in interfering with desired accomplishments. Many leaders don’t address the issue seriously and put culture adjustments at the end when, in reality, a culture change can make the difference towards a more rapid transformation.
In short, the lack of experience managing and maintaining a business transformation process makes it a lot more challenging to engage in digital evolution swiftly. As a result, the BOT model has been employed, introducing the required flexibility and scalability to achieve success in the digital scenery.
Opting for BOT: Benefits and areas of influence
Implementing the BOT model helps companies learn how to run their own digital and business transformation. Instead of overlapping with external merchants, either for data or talent, the build-operate-transfer model gives enterprises the ability to control their main priorities and be immediately operational.
The benefit of mitigating risk is vast, as clients only acquire the company at the end of the engagement if it meets quality and efficiency standards. The BOT model also embraces the IT operation team’s challenges, enabling IT performance to transition smoothly with an exit strategy in mind. Implying that a client is not only consuming a product but building an operation platform with long-term capacities. The advantage of building digital capabilities by recruiting, developing, and retaining dedicated digital experts is way too consequential to be outsourced. With the right structure and processes, this model operates shoulder to shoulder with clients, offering constant and innovative coaching on the ground.
Staying ahead in the digital landscape has become a significant concern for business leaders. Considering that by 2025, 75 percent of the active population will be millennials, readiness for adaptation should be strongly contemplated. That’s where the BOT model plays an outstanding role, taking heed that clients not only profit from many specific benefits but gain extraordinary value.
Consequently, by taking the necessary steps to build a dedicated team with the required skills quickly, other areas of influence will also help increase market share:
Human resources. After specifications are settled, the outsourcing partner will begin the recruiting, hiring, and onboarding process of your team of experts. The BOT model takes an enormous load off your back, providing fully skilled people ready to take your business to the next level. Moreover, regarding project operations, communications, and employment, professional development support for your dedicated team will ensure retention and optimal performance.
Function of business management. At present, industry leaders confront many critical management decisions on how to move forward amidst the global crisis. Throughout the model’s operation phase, an experienced and resourceful team will help manage day-to-day operations, including regular communications and reporting. This advantage has become a supportive asset for the function of any business management operation.
Sales and procurement. The BOT model helps organizations get ahead by increasing their capabilities, addressing complex transformational issues, and minimizing the initial investment and risk. Additionally, the application of management resources responsible for IT infrastructure procurement reduces operation time. Therefore, clients gain enough stress relief to focus on sales and become fruitful in a short period.
Business transformation strategy
If BOT is the correct model for your enterprise, the first step to take action involves seeking out the right IT outsourcing partner. Some essential details can have a powerful impact on the success of this digital journey. When putting together a business transformation strategy, make sure to assess these elements during your partner’s selection process carefully.
Flexibility and scalability. Every business is unique, which helps each partner’s contribution to adapt to an increasingly competitive marketplace. Look for an ally that can provide tailored and flexible solutions. Eventually, and at a rapid pace, the digital world will require new alterations, companies may be affected by new acquisitions or mergers that could alter future projections. Having a partner who can be ready to respond to any concern and quickly scale up or down as your needs evolve is crucial.
Security and compliance. TEAM has customized IT and software development solutions, including the BOT business model, for leading companies in the U.S., Europe, and Asia for almost 30 years. Our experience has taught us that even seemingly small security or compliance breaches can have enormous monetary and brand-damaging consequences. Make sure that any IT outsourcing provider you select to work with has a proven record in ensuring security and compliance for their customers.
Skills and experience. The pinnacle purpose of any IT project is to solve a business need. Verify looking for a partner that takes the time to understand your business demands and goals truly. At TEAM International, we employ over 1000 global experts, established for their in-depth technology proficiency, valuable industry insights, and groundbreaking thinking. All of them operating in six different locations around the globe. Having such skilled market power helps our clients accelerate their business transformation, driving growth, innovation, and success.
Meeting the challenges of the future
In closing, moving forward into the future impales entering a race to digital transformation, in which quickness, scalability, and experience are vital to guarantee a successful evolution. To ensure organizations leverage emerging technologies, expand globally, and deliver innovative products and services while scaling new capabilities, the build-operate-transfer engagement model is an excellent fit. At TEAM, we understand that every enterprise is unique. Contact us to determine the right IT engagement model for your business.